For nearly 8 decades, Mexico had not drilled any offshore well for oil until the recent one that was conducted by a private company. Since 1938 when the country agreed to production of oil nationally, the oil industry has been run by a Petroleos Mexicanos which was a monopoly. The drilling that was a combination of efforts by Talos Energy, Mexico’s Sierra Oil & Gas and Premier Oil Plc, will enable competition in the production of oil.
The cost of drilling the well is 16 million dollars and it holds a lot of crude oil which is based in the Tabasco. The three companies running this oil drilling project won the bid after the country decided to open up its suffering oil industry. Talos Energy holds the second position in ownership of stake as it owns 35% in the project. This company was formed by Duncan with 600 million dollars’ worth of equity, assets and over 60 experts to advise them in Houston. Talos combines work and play and this has earned them a name in the local upcoming businesses. They acquired a Helix Energy Solution subsidiary, Energy Resource Technology GOM, Inc., for 620 million dollars and they have a continued growth curve as they are shopping again for an acquisition between 475 and 500 million dollars. The Energy Resource Technology produces over 16 thousand barrels of oil every day and more information click here.
Talos is a company that focuses on gas and oil. It is focusing its efforts on exploring and acquiring gas and oil properties at the Gulf Coast and the Gulf of Mexico. Its investment money has been connected to the management of Talos, Apollo Global Management, and Riverstone Holdings LLC. Duncan previously worked at Gryphon Exploration and he was acknowledged for his hard work by his bosses. The acknowledgment pushed him to work harder and it is partially a reason for his success to date. Since the company is still small, there is a drive to increase returns through the innovation of the employees. The headquarters of Tacos are based in Houston in Texas and they are focused on building a larger company through their strategic acquisitions of companies that deal with gas and oil and learn more about Talos.
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